Iwata: Nintendo 'thinking about a new business structure' following weak console sales

With Nintendo having to slash its forecasts following weak Wii U sales comes the contemplation of new business strategies. While not announcing any definitive changes in the company's direction, Nintendo President Satoru Iwata admitted at a press conference today in Osaka, Japan that the company is "thinking about a new business structure," Bloomberg reports.

"Given the expansion of smart devices, we are naturally studying how smart devices can be used to grow the game-player business," Iwata said. "It's not as simple as enabling Mario to move on a smartphone."

Nintendo took its 3DS projections for the fiscal year down from 18 million to 13.5 million. However, the bigger hit came with decreased projections for its home console, taking the Wii U down from 9 million to 2.8 million for the year.

"We cannot continue a business without winning," Iwata added. "We must take a skeptical approach whether we can still simply make game players, offer them in the same way as in the past for 20,000 yen or 30,000 yen, and sell titles for a couple of thousand yen each."